Parking is an issue that can be a deciding factor when choosing an apartment complex. It can be an amenity, a perk, or a necessity.
Parking can be a challenge, especially in high-density areas where street parking is often scarce and costly. Learn more about your options for parking in an apartment community, including assigned and tandem parking.
Parking is an Amenity
Apartment complexes are becoming increasingly popular in urban areas, as people are looking for more convenience in their lifestyle. This includes perks like fitness rooms, pools, and media rooms.
However, many of these amenities can also come at a price. For example, gyms and pool areas cost money to maintain and can be a source of conflict for landlords who are trying to keep their properties affordable for tenants.
Parking is also an important amenity for apartment complexes to provide their residents. Without parking, it can be difficult to get around town and can even pose a safety threat when it comes to driving at night.
A recent survey by the National Multifamily Housing Council ranked parking as a renter’s second most desired community amenity behind only cell-phone reception. This is particularly true in cities where parking is limited or not available at all.
In order to ensure that there is enough parking for apartment complexes, local governments have begun regulating and planning it. The city of Boston, for instance, requires developers to build two-thirds more off-street parking than before.
Whether or not an apartment complex needs to provide parking depends on the location of the property and the types of units that it offers. In addition, the city may have different transportation and walkability standards.
For these reasons, it’s important to understand how an apartment parking policy works and the benefits that it can bring. While there isn’t a one-size-fits-all strategy, parking management can help an apartment community stay competitive in the market and attract new tenants.
For example, some apartments offer garage parking that can be rented out to individuals. This allows them to park their cars in a secure area without worrying about them being towed away or stolen. It’s important to find out if garage parking is an option at the apartment complex you are considering renting in and how much it will cost.
It’s a Perk
Parking is one of the most essential amenities for apartment complexes. But it can also be an expensive perk to offer, especially for older buildings that were built before zoning regulations and building standards required more parking spaces.
If you’re planning on moving to a new apartment complex, it’s crucial to look at how the parking is managed. Whether the community charges an upfront fee that covers all parking costs for the duration of your lease or offers monthly fees is an important factor to consider.
Depending on your lifestyle, you may prefer different types of parking. Here are seven common options:
Garages in apartment complexes can be a convenient option for those who don’t have a lot of extra space outside their apartments. This type of parking typically allows you to park closer to your unit, and it may be located in a garage that is secure.
However, you should check your lease for any restrictions or rules that the garage may have on vehicle size, back-in parking, and how long you can leave a car in the same spot. Those kinds of restrictions can add up to an expensive fine that could easily wipe out your budget.
This type of parking is usually assigned to you as soon as you sign your lease, and it’s a good choice for those who don’t have too much extra space outside their apartment. Assigned parking spots typically have numbers or letters, and they are often in a garage, secured parking lot, or another area controlled by the apartment community.
If you have a large family or lots of people living in your apartment, tandem parking is a great option. It will save you time and money, since you can park two cars in one spot.
If the weather is chilly or you have a lot of extra luggage, covered parking can be an appealing choice. It’s more convenient than uncovered parking, and it can be cheaper to build, maintain, and manage.
If you’re a property manager or landlord, parking is a great perk to offer your tenants as a way to keep them happy and make them feel welcome. The best perks will address fundamental concerns, such as parking and safety.
It’s a Necessity
Apartment complexes need to provide a variety of facility-wide services, including parking. These services are important for the comfort and security of residents, but they also have to be affordable for owners and managers.
One of the most essential aspects of maintaining a parking lot is keeping it clean. The cleanliness of your parking lot can tell prospective residents and potential tenants about the care that you take to maintain the entire property.
Parking is a must for apartment complexes, and there are plenty of reasons why it’s a good idea to make sure your parking lot is properly maintained.
A parking garage can be a great addition to your complex, as it can help you maximize revenue sources and improve the efficiency of your business operations. It can also be an effective way to reduce operational costs and cut down on your maintenance and repair expenses.
It can also provide a place for visitors and guests to park. It can also prevent people from parking on the street or in front of their neighbors’ houses, which can annoy the surrounding residents.
There are many different types of parking spaces for apartment complexes, and some are more popular than others. Some of these include uncovered parking, which is the most common and less expensive to operate, as well as covered parking.
These parking spaces are often grouped in multistory parking ramps or single-story garages and are typically more expensive for residents than uncovered parking.
In some areas, such as New York City, parking can be a very valuable perk of renting an apartment. Some apartments are located in dense neighborhoods that have very few public parking options, and having a dedicated parking space can be a real perk of living there.
The demand for parking is changing, which means apartment communities that have parking must be prepared to offer it in a more streamlined and modern way. With the rise of electric vehicles and the sharing economy, the need for parking is reducing in most areas.
In addition, it is increasingly common for apartment developers to propose projects that have fewer parking spaces than traditional developments. This can free up unused space for new housing, such as senior apartments. While these changes won’t happen overnight, they will be a growing trend in the future.
It’s a Choice
Parking is a crucial component of many apartment complexes. It makes a big difference in the price of an apartment, and it’s an important perk for people who live alone or with roommates.
There are a lot of factors that go into deciding whether or not to include parking at your apartment complex, from how much parking is provided to your own needs and budget. You should also consider the types of parking available in your neighborhood and how it will impact your commute.
If you have a car, it’s a good idea to check the parking options available at your apartment building before signing a lease. Then, you can determine which option works best for you.
You’ll find that most apartment complexes have a number of different parking types, from unassigned spaces to garages with reserved spots. There are even a few special parking rules that you should know about.
For example, some apartment complexes have special spots that are only for compact cars or those that are energy-efficient. They may also have time limits on how long your vehicle can be parked in the garage.
Another type of parking is tandem spots, which are angled spaces that allow you to park 2 cars in one space. These are ideal if you and your roommate have 2 vehicles.
Finally, some apartment complexes offer visitor parking, which is a good option for residents with guests. These spots are usually located in a designated zone and can be paid for with a small fee.
In addition to these amenities, apartment communities can offer other perks, such as a clubhouse or gym. These perks can be a great way to increase occupancy, and they can also help attract a wider range of tenants.
For apartment communities that have an age demographic or are located in a high-density area, the inclusion of parking is especially important. In fact, a recent survey showed that over half of respondents would pay more for a reserved parking spot.
The future of parking will be affected by a number of factors, including the increasing popularity of electric vehicles and the rise of autonomous vehicles. But for now, apartment community owners and managers need to continue addressing the issue in their business plans and strategies.